By IANS,
New Delhi: Finance Minister Pranab Mukherjee Tuesday said that there could be a double-digit inflation in March.
“I will not be surprised if we have a double-digit inflation by March. We are primarily concerned with food inflation. It has to be tackled,” Mukherjee told the Rajya Sabha during the discussion on the budget for 2010-11 financial year.
Driven by increasing food prices, India’s annual rate of inflation, based on the wholesale price index, rose to a 16-month high of 9.89 percent in February from 8.56 percent in the previous month.
On the other hand, India’s annual food inflation based on wholesale prices stood at 17.81 percent for the week ended Feb 27.
Mukherjee said when he took over as finance minister the inflation was at 17 percent.
“When our Prime Minister Manmohan Singh had taken over as finance minister during 1993, the inflation had touched 16 percent and when Indira Gandhi had taken over as prime minister the inflation had crossed 21 percent,” he remarked.
Mukherjee stressed: “We have to ensure the momentum of growth. Growth in itself is not an end. Growth must have an objective for inclusive growth that percolates to each and every member of the society”.